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Tag Archives: too big to fail

Hunting for Dirty Deeds in the $34 Trillion U.S. Futures Market; Clearing houses saddled with ‘too-big-to-fail’ tag; ASX’s blockchain may mean job losses John Lothian Newsletter,Newsletter

First Read Odds & Ends Jim Kharouf, JLN A busy day around Chicago yesterday. FIA held its Washington update lunch, where FIA President and CEO Walt Lukken told the audience that the pendulum on regulation is shifting back. He is hopeful that the new administration will adopt its recommendations for: smart regulation, open access to global markets and a focus on innovation from regulators. How this all comes about is still to be determined. We will have more from Walt soon on all three topics. Later in the day, I checked out the new trading platform from TastyTrade at the…

Historic Risk Management Rules and Practices Go Live on March 1, 2017 in Leading Markets; Clearing houses not “too big to fail” – CFTC; Goldman Tells Stock Pickers to Rejoice as Correlations Decline Newsletter,Options

Lead Stories Historic Risk Management Rules and Practices Go Live on March 1, 2017 in Leading Markets Seyfarth Shaw LLP – JDSupra For the first time in the history of derivatives, regulators in leading markets will require assets to collateralize many derivatives which are not settled in a regulated clearinghouse. It is not possible to overstate the significance of this global regulatory development, which began to take effect in the United States on September 1, 2016, and will continue to apply in 2017 in several industries domestically and across national borders. jlne.ws/2h3sWEV Clearing houses not “too big to fail” –…

EU calls on clearing houses not to become ‘too big too fail’; CME Group Announces Record Open Interest of 117 Million Contracts, Interest Rate Complex Hits 69.5 Million; Hong Kong Investors’ Wait to Trade Shenzhen Stocks Is Over John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian Later today John Lothian News will be publishing an exclusive video interview with the incoming president and CEO of the National Futures Association, Tom Sexton. Our Jim Kharouf sat down with Sexton in the NFA’s offices last week. We will also be publishing this week some print stories from Jim following up on his trip to Colombia and the WFE Annual Meeting in Cartagena, Colombia. He has a U.S. Treasury story that features KCG’s CEO Dan Coleman and a Bitcoin story. Our condolences to Jeff Bergstrom and my wife on the…

John Lothian Newsletter: US regulators propose powers to scrutinise algo traders’ source code; CBOE Holdings to Launch Options on FTSE 100, FTSE China 50 Indexes; Can the London Metal Exchange crack the steel market? John Lothian Newsletter,Newsletter

First Read Mark Spanbroek, European Principal Traders Association – Financial Markets 2.0 MarketsWikiEducation.com “What trading is really about is finding an algorithmic, or systematic way, to analyze the market. And this is done with data.” Mark Spanbroek’s trading career spanned the transition from the old world of trading pits to the new world of algorithms. He now serves as acting chairman of the FIA European Principal Traders Association (EPTA). In this MarketsWiki Education presentation, Spanbroek showcases both worlds – Financial Markets 1.0 and 2.0 – from the pit trader in the multi-colored trading jacket to today’s trader, who he says…

John Lothian Newsletter: World Leaders Meet in Paris to Overcome Divisions on Climate Change; Deutsche Börse to encourage hidden trades; Wall Street Group Pushes Trading of China’s Yuan in U.S. John Lothian Newsletter,Newsletter

First Read All Eyes on Paris, and…Singapore By JLN Staff All eyes are on Paris this week, site of the recent terrorist attacks, as the city hosts the COP21 climate change talks that only potentially hold the fate of the planet in their grip. Next week, the focus for the derivatives and trading worlds will shift to Asia, where the FIA will hold its FIA Asia conference. Our Editor-in-Chief Jim Kharouf will continue his 2015 globetrotting tour by heading to Singapore and to Hong Kong for the conference and some video production work. Jim just returned from Florida from the…

John Lothian Newsletter: ICE beats CME to Trayport with $650m deal; Nasdaq in talks to buy Chi-X Canada for about $100 mln; End of ‘Too-Big-to-Fail’ Banking Era Endorsed by World Leaders John Lothian Newsletter,Newsletter

First Read Paris by John J. Lothian I love Paris. I just visited this great city twice this fall, and three times in the last 13 months. My heart goes out to the residents of Paris and those impacted by these barbaric acts. I am heartbroken at the loss of human life in these attacks. Of course the reaction has been to fight violence with violence in the form of air attacks against ISIS, who claimed responsibility. But violence begets violence. We also need to find a way to respond with love. Justice for those who are guilty, but only…

John Lothian Newsletter: EU Financial-Markets Overhaul Start Date May Be Delayed by Year; CFTC Seeks to Bar Trader in Spoofing Case; China to Allow Direct Conversion Between Yuan and Swiss Franc John Lothian Newsletter,Newsletter

First Read A Bad Way to Make Banks Safe By Editorial Board – Bloomberg Global regulators say they’re making progress in reducing the threat that the world’s largest banks can pose to the economy. Actually, new rules may be making things worse. bv.ms/1QfOvjx ***** I love it when a plan comes together. ++++ When Bloomberg Employees Predict the Future; Look into our crystal ball and all will be revealed! Bloomberg News Every year around November or December, many journalists get an assignment they will probably hate. That assignment is, of course, to write about what will happen in the coming…

John Lothian Newsletter: U.S. Probes Treasuries Niche That Some Investors Claim Is Rigged; Banking Giants Learn Cost of Preventing Another Lehman Moment; Bonus Pay on Wall Street Is Likely to Fall John Lothian Newsletter,Newsletter

First Read FIA Expo: Acid washed options Spencer Doar – JLN The clear message from FIA Expo was that the options industry needs market makers and regulators are making it hard on market makers. At the risk of sounding like “South Park’s” Mr. Mackey, that’s bad, m’kay? Adding to the current quandary of market makers in the options space is the sheer number of markets that need making. While kicking off the “Equity Options Exchange Leaders” panel, moderator Patrick Hickey, head of market structure at Optiver, discussed the bloated number of strikes that participants have to deal with when trading…

Right Turn: Micah Green Examines Derivatives Reform in the Wake of the 2014 Congressional Election Regulation,Video

When Congress passed the Dodd-Frank Act in 2010, the Democratic Party controlled both the Senate and House of Representatives. The Act was signed into law by President Obama, also a Democrat. Since then, the U.S. Congress has turned to the right, with the Republicans taking the House in 2010 and now the Senate in 2014. Is this a signal that the Act could be rolled back or repealed outright? “You can’t expect a repeal, such as they are discussing in health care, but you will see some tinkering around the edges,” said Micah Green, partner at Squire Patton Boggs, who…